Benoît Morenne

They lost billions of dollars outspending themselves.

And companies have since embraced something that everyone calls capital discipline, which is that it's all about returning cash to shareholders.

It's all about dividends, buybacks.

And if anything, you know, the volatility price is spiking.

That's great for them to return even more cash.

to investors, and then also lock in prices for future output.

So oil is a global market.

What happens in the Middle East is going to have ramifications for U.S.

consumers at the pump.

That being said, rising oil production and the steadiness that defines the U.S.

oil and gas industry now is providing sort of a buffer between consumers and price spice.

Because if it weren't for the industry's ability to keep producing through high and low prices, you could see even higher gasoline prices.

Thanks for having me.

Yeah, well, crude prices have been in for a tough ride since Trump's Rose Garden announcement about two weeks ago, where he unveiled all those tariffs against a number of countries in the world. You've seen U.S. oil prices drop by about 10% since this announcement. This drop also applies to global crude prices. So everyone's very carefully looking at growth demand for oil this year.

Yeah, well, crude prices have been in for a tough ride since Trump's Rose Garden announcement about two weeks ago, where he unveiled all those tariffs against a number of countries in the world. You've seen U.S. oil prices drop by about 10% since this announcement. This drop also applies to global crude prices. So everyone's very carefully looking at growth demand for oil this year.

got it and that lower demand for oil is very much a part of this most recent report from the iea that's right it's a pretty gnarly situation for a number of oil and gas producers especially here in the us because they're finding themselves squeezed between opec

got it and that lower demand for oil is very much a part of this most recent report from the iea that's right it's a pretty gnarly situation for a number of oil and gas producers especially here in the us because they're finding themselves squeezed between opec

which is this oil producing cartel that has decided to unwind production cuts starting next month, which has been surprising to a number of observers of the market because those increases are going to be much more substantial than people expected. And then at the same time, you're seeing the potential for some sort of global slowdown, which would impact oil.

which is this oil producing cartel that has decided to unwind production cuts starting next month, which has been surprising to a number of observers of the market because those increases are going to be much more substantial than people expected. And then at the same time, you're seeing the potential for some sort of global slowdown, which would impact oil.

demand for their product so you'd have weakening demand for oil at the same time that you're seeing an oversupply market which is sort of the worst case scenario for oil and gas producers it's pretty good for gasoline consumers however right because you're likely to see lower gasoline prices which of course was a core promise of president trump on the campaign trail